How to Transfer a Brokerage Account Between J.P. Morgan Chase and Webull
If you’re looking to transfer a securities account from J.P. Morgan Chase to Webull, or vice versa,
you’ve come to the right place. We’re going to show you step-by-step how to go in both directions.
When you’re finished reading, you’ll know exactly what to do.
Transferring from J.P. Morgan Chase to Webull
Why would you want to move from J.P. Morgan Chase to Webull? The latter broker has a good desktop
platform and a great cryptocurrency service, among other highlights.
Before you take the plunge, you do need to be aware that J.P. Morgan Chase charges $75 to move an
account to another firm. Webull does have ACAT rebate promotion, however. Right now, there is a
current transfer special that would cover Chase’s fee. It required a minimum account transfer of $2,000.
If you want to avoid the hassle of ACAT transfers altogether, you could liquidate all positions in your J.P. Morgan Chase account, move the cash to a bank account, and from there pull the money into your new Webull account with the broker’s ACH transfer tool.
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Here’s how to do the ACAT transfer:
1. Open a Webull account. Both the name and account type must exactly match your J.P. Morgan Chase account.
2. Request a full or partial account transfer. At Webull, you can move an entire account or just certain securities. The latter option will leave your old account open with whatever securities you didn’t specify in your transfer request. In either case, J.P. Morgan Chase will charge $75.
To complete step #2, you’ll need to open the Webull mobile app and tap on the bull’s horns at
the bottom of the screen. This will give you the account management window. From here, you’ll
be able to access “Transfers” at the menu in the top and then “Transfer Stocks into Webull” icon.
Webull’s software displays several well-known brokerage firms by their logos. Tap on “J.P. Morgan.”
This will give you an ACAT form that requires just a few pieces of information. You’ll need to supply your account number from J.P. Morgan Chase and the name on the account. You’ll also need to specify full or partial transfer.
If you’re doing a partial transfer, you’ll have to specify each position and the number of shares.
Transferring from Webull to J.P. Morgan Chase
On the J.P. Morgan Chase front page, click on the “Click to Open Account” button. That’s pretty self-explanatory. Be sure not to open a “J.P. Morgan Portfolios” account. These are robo accounts that won’t accept stocks, options, and some ETFs you may hold in your Webull account.
When you have your J.P. Morgan Chase account open, it’s time to start the transfer. The whole procedure could take up to 2 weeks.
Inside your new Chase account, click on “Pay & transfer” in the top menu. When you do this, you’ll get a drop-down menu with several choices. Select “Transfer securities.”
Doing so will produce an online transfer application. While this is certainly a convenient service, J.P. Morgan Chase customers unfortunately cannot use it for partial transfers or joint accounts. Instead, they must fill out a pdf form, print it off, and mail it in to Chase.
With either the electronic or paper form, you’ll need a copy of your most recent Webull statement. Be sure to use this to accurately input your Webull account type and number.
If you need any assistance during the transfer process, give J.P. Morgan Chase a call at 1-800-392-5749.
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Comparison
Read detailed WeBull vs JP Morgan Comparison.
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Chad Morris is a financial writer with more than 20 years experience
as both an English teacher and an avid trader. When he isn’t writing
expert content for Brokerage-Review.com, Chad can usually be found
managing his portfolio or building a new home computer.
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